Australia Proposes New Regulations for Crypto Platforms Ahead of 2027 Rollout
- Australia’s securities regulator, ASIC, opened consultation on new capital and trading requirements for crypto platforms.
- Proposals include three capital models, requiring at least AUD $14 million ($9.7 million) in net tangible assets for some operators.
- The regulations aim to enhance customer asset protection and address conflicts of interest in trading practices.
- Feedback on the proposals is due by November 27, with final standards expected in March 2027.
- The new law will take effect on April 8, allowing operators until October to apply for licenses while continuing operations.
ASIC’s proposed guidance reflects the growing importance of digital assets within the financial system and aims to provide clarity for operators seeking compliance under the new framework.
With a minimum asset requirement of AUD $14 million for certain platforms, these regulations are set to reshape the landscape of Australia’s crypto industry significantly as they prepare for implementation in April (Source).
